Simulations Plus (NASDAQ:SLP) Shares Gap Down After Insider Selling

Simulations Plus, Inc. (NASDAQ:SLP)’s stock price gapped down before the market opened on Wednesday after an insider sold shares in the company. The stock had previously closed at $46.86, but opened at $42.85. Simulations Plus shares last traded at $40.68, with a volume of 73,008 shares traded.

Specifically, Director Daniel L. Weiner sold 3,250 shares of the business’s stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $48.31, for a total transaction of $157,007.50. Following the sale, the director now owns 8,759 shares in the company, valued at $423,147.29. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Walter S. Woltosz sold 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $45.95, for a total value of $919,000.00. Following the sale, the director now owns 3,580,857 shares in the company, valued at $164,540,379.15. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Daniel L. Weiner sold 3,250 shares of the company’s stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $48.31, for a total value of $157,007.50. Following the completion of the sale, the director now owns 8,759 shares in the company, valued at approximately $423,147.29. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 44,500 shares of company stock worth $2,072,198. Insiders own 20.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on SLP shares. William Blair started coverage on Simulations Plus in a research note on Friday, June 28th. They set an “outperform” rating for the company. Craig Hallum reissued a “buy” rating and issued a $56.00 price objective on shares of Simulations Plus in a research note on Wednesday. Finally, Oppenheimer increased their price objective on Simulations Plus from $55.00 to $65.00 and gave the company an “outperform” rating in a research note on Thursday, June 13th.

Simulations Plus Stock Performance

The firm has a market capitalization of $797.20 million, a price-to-earnings ratio of 75.26 and a beta of 0.72. The business has a 50 day simple moving average of $47.68 and a 200-day simple moving average of $44.15.

Simulations Plus (NASDAQ:SLP) last issued its quarterly earnings data on Tuesday, July 2nd. The technology company reported $0.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.15 by $0.04. The firm had revenue of $18.54 million during the quarter, compared to the consensus estimate of $17.92 million. Simulations Plus had a return on equity of 7.95% and a net margin of 16.22%. The company’s quarterly revenue was up 14.2% on a year-over-year basis. During the same period last year, the company earned $0.20 EPS. Equities analysts predict that Simulations Plus, Inc. will post 0.55 earnings per share for the current fiscal year.

Simulations Plus Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 5th. Investors of record on Monday, July 29th will be given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.60%. The ex-dividend date is Monday, July 29th. Simulations Plus’s payout ratio is 45.28%.

Hedge Funds Weigh In On Simulations Plus

Several institutional investors have recently bought and sold shares of SLP. EntryPoint Capital LLC purchased a new position in shares of Simulations Plus in the 1st quarter valued at about $57,000. Allspring Global Investments Holdings LLC purchased a new stake in Simulations Plus during the first quarter worth approximately $70,000. Connecticut Wealth Management LLC purchased a new stake in Simulations Plus during the first quarter worth approximately $204,000. Canton Hathaway LLC lifted its stake in Simulations Plus by 25.0% during the fourth quarter. Canton Hathaway LLC now owns 5,000 shares of the technology company’s stock worth $224,000 after purchasing an additional 1,000 shares during the last quarter. Finally, Janney Montgomery Scott LLC purchased a new stake in Simulations Plus during the first quarter worth approximately $208,000. 78.08% of the stock is owned by institutional investors and hedge funds.

Simulations Plus Company Profile

Simulations Plus, Inc develops drug discovery and development software for modeling and simulation, and prediction of molecular properties utilizing artificial intelligence and machine learning based technology worldwide. The company operates through two segments, Software and Services. It offers GastroPlus, which simulates the absorption and drug interaction of compounds administered to humans and animals; and DDDPlus and MembranePlus simulation products.